Free-Look Period
✓ Last verified 14 Sep 2026
The short version
The free-look period is a mandatory window - currently 30 days for life and individual health policies of one year or more - during which you can cancel a newly purchased policy for a near-full refund if it doesn't suit you.
Since 1 April 2024, IRDAI mandates a uniform 30-day free-look period (up from an earlier 15 days) from the date you receive the policy document, applicable to life insurance and individual health policies of one year or more, regardless of how the policy was purchased. It doesn't apply to general insurance like motor or travel policies. During this window, you can cancel and receive a refund of premium paid, minus certain minor deductions (proportionate risk cover for time elapsed, any medical exam costs already incurred).
(Duration checked as of September 2026, per the IRDAI rule effective 1 April 2024.)
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